Bitcoin Breakout May Be Early Sign of Bigger Bullish Move

Bitcoin's recent price behavior suggests it may be early in a bigger bullish move, according to Frank Cappelleri. The founder and president of chart research firm CappThesis points out that Bitcoin has already rallied from its summer lows by around 20% in August. This is significant because such moves were rare during weak stretches.

Cappelleri notes that earlier breakouts failed to spark a bullish move, citing three instances between late 2025 and early 2026 where price patterns fizzled. However, this time around the pattern traders read as a sign of higher prices has finally delivered, setting up Bitcoin's August breakout.

The analyst also draws historical comparisons, stating that Bitcoin's weekly chart this year resembles the stretch from 2022 into 2023. During that period, price averages turned upward and began cushioning dips, marking a shift from falling to rising markets.

Moreover, Cappelleri highlights the long-term trend line stretching back to 2017, which Bitcoin's rebound began near. Each of three earlier dips toward it led to a rally within months. The roughly 20% August gain, combined with exchange trading volume rebounding that month according to CryptoQuant's data, further supports his argument.